95 insights

Video
New
Jul 26, 2021

July 21 Webinar Replay - Osterweis Fund and Osterweis Growth & Income Fund Q2 Update

If you were unable to join our quarterly webinar, watch the replay to hear updates on the Osterweis Fund and Osterweis Growth & Income Fund (formerly named Strategic Investment Fund).
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Video
New
Jul 19, 2021

July 13 Webinar Replay - Osterweis Strategic Income Fund Q2 Update

If you were unable to join our quarterly webinar, watch the the replay to hear updates on the Osterweis Strategic Income Fund.
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Video
New
Jul 19, 2021

CNBC: Interview with Larry Cordisco

Watch CNBC's interview with Larry Cordisco, Portfolio Manager for the Osterweis Fund, who discusses the tech trading environment and a potential Intel acquisition. (Subscription required.)
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Outlook
New
Jul 19, 2021

Third Quarter Total Return Outlook

Despite a strengthening economy in the second quarter, investors were highly focused on the Federal Reserve’s response to the recent spike in inflation data. The market was satisfied with their reaction, stabilizing Treasury yields and driving investment grade corporate spreads to their tightest level in years.
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Outlook
New
Jul 15, 2021

Third Quarter Equity Outlook

Equities continued to rally in the second quarter, but the market remains undecided about whether the recent uptick in inflation is more likely to be transitory or persistent.
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Outlook
New
Jul 13, 2021

Third Quarter Strategic Income Outlook

Our economic outlook remains constructive, though we recognize it’s still too soon to know whether the current bout of inflation is transitory. Given the potential for rate increases, particularly after the Fed’s comments in June, we continue to prefer non-investment grade bonds, as they have lower duration and higher yields.
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Blog
New
Jul 7, 2021

Total Return Perspectives: June 2021

Following the June Federal Open Market Committee (FOMC) meeting, the Treasury curve flattened as the market reacted to a more aggressive hiking schedule than previously expected. Risk continued to perform well as investment grade (IG) corporates outperformed again and tightened through levels not seen since 2018. Economic data continues to improve showing the reopening remains on track, but investors remain focused on elevated levels of inflation.
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News
New
Jun 30, 2021

Press Release: Fund Name Change and Management Fee Reductions

Read our latest press release for details on the change of the Strategic Investment Fund's name to Growth & Income Fund, as well as management fee reductions.
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Blog
New
Jun 29, 2021

Investment Grade Credit Midyear Report: A Challenging First Half, but Opportunities Remain

Rising interest rates generated negative year-to-date returns for investment grade bonds in 2021, but the second half of the year looks more promising. We believe the combination of reduced supply and strong demand will create attractive opportunities, and we are constructive on corporate credit and asset backed securities (ABS).
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Podcast
Jun 25, 2021

Deconstructing Alpha: Interview with Carl Kaufman

Listen to a recent interview with Carl Kaufman on the "Deconstructing Alpha" podcast, where they discuss the history and active management of the Strategic Income Fund, as well as investing in the current low interest rate environment.
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Podcast
Jun 25, 2021

Investing with IBD: Interview with Larry Cordisco

Listen to Larry Cordisco's recent interview on the Investor's Business Daily podcast “Investing with IBD," where he provides analysis of past periods of divergence in market history to put the trading action of 2021 into perspective.
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Podcast
Jun 23, 2021

Money Life with Chuck Jaffe: Interview with Eddy Vataru

Listen to Eddy’s interview on the “Money Life with Chuck Jaffe” podcast to hear his thoughts on inflation in the current market environment and how it's different from the financial crisis a decade ago.
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Blog
Jun 18, 2021

Why Secular Growth Matters, and How We Find It

Growth stocks have lagged cyclicals so far in 2021, but we remain steadfast in our belief that secular growth is the key to generating long-term returns. In this piece, we discuss how we find attractive opportunities in the small cap universe.
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Video
Jun 16, 2021

Webinar Replay - Assessing Inflation Risk in a Post-Pandemic Economy

If you were unable to join Eddy Vataru’s webinar on Assessing Inflation Risk in a Post-Pandemic Economy, you can watch a replay to hear why he feels the risk of sustained inflation is higher now than at any point in recent memory.
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News
Jun 11, 2021

MarketWatch: Is inflation eating up all the interest you’re earning on 10-year Treasury notes?

In this MarketWatch article, Eddy Vataru, CIO-Total Return, discusses his thoughts on inflation.
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Blog
Jun 8, 2021

Total Return Perspectives: May 2021

Treasury yields fell again in May and credit spreads approached recent tights as the virus continued to recede, allowing the reopening of the economy to progress. Economic data was noisy this month, largely due to base effects, but confirms the ongoing trend of renewed growth and signs of inflation.
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Blog
Jun 3, 2021

Electric Vehicles Have Shifted into High Gear, and One EV Stock Is Well-Positioned to Capitalize

After idling for decades, electric vehicles (EVs) are finally ready to charge ahead. Changes in the regulatory landscape, decreasing costs, and a substantially wider range of buying options have transformed the industry and created a powerful secular growth trend. One little known electronics supplier, Aptiv PLC, is particularly well-positioned to take advantage of the opportunity.
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Blog
Jun 3, 2021

Inflation in 2021: Why It Could Be Different This Time

Inflation has been top of mind for investors throughout 2021, as a combination of supply chain disruptions and pent up demand have led to higher prices throughout the economy. The question going forward is whether these increases are transitory or permanent. In our view, the risk of sustained inflation is higher now than at any point in recent memory, and we believe that fixed income investors should adopt a defensive posture.
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News
May 13, 2021

Mutual Fund Observer: Osterweis Strategic Investment Fund Profile

Mutual Fund Observer recently published a profile on the Osterweis Strategic Investment Fund (OSTVX). The profile highlights why MFO believes the fund’s “outstanding management, and long, solid track record” make it a worthwhile investment.
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Blog
May 6, 2021

Total Return Perspectives: April 2021

Treasury yields fell in April, in a modest retracement of the first quarter selloff. While virus outbreaks persist regionally, the general trajectory of news has been positive as vaccine dissemination continues. Economic data demonstrated continued growth as the economy emerges from last year’s pandemic depths.
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Video
May 3, 2021

TD Ameritrade: Interview with Eddy Vataru

Watch TD Ameritrade's interview with Eddy Vataru, Portfolio Manager for the Osterweis Total Return Fund (OSTRX), who explains why he’s taking a cautious approach to both inflation and interest rate risk.
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Blog
Apr 6, 2021

Total Return Perspectives: March 2021

Treasury yields marched higher in March, with the move again concentrated in longer maturities. While there have been some virus-related lockdowns (mostly in Europe) the general trajectory of news has been positive, with vaccine dissemination accelerating. Economic data was broadly positive. The White House has proposed a sweeping fiscal stimulus package funded by tax increases for corporations and individuals with high incomes.
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Blog
Mar 31, 2021

Price Makers, Share Gainers, and Compounding Machines: Three Quality Business Models

Defining a quality business is easier said than done. We have found that the highest quality businesses either consistently exercise pricing power while maintaining market share or consistently grow market share by undercutting incumbents. A choice few companies we call “compounding machines” can both raise price and increase market share.
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Blog
Mar 11, 2021

In a Speculative Market, Focus on Fundamentals

As investors have become more optimistic about the U.S. economy, speculative activity has become a progressively bigger driver of returns, particularly in small and micro-cap stocks. While we always welcome an equity rally, in volatile environments like this, we believe it is more critical than ever to focus on fundamentals and invest only in the highest quality firms.
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Video
Mar 5, 2021

TD Ameritrade: Interview with Larry Cordisco

Watch TD Ameritrade's interview with Larry Cordisco, Portfolio Manager for the Osterweis Fund, who discusses two companies to watch as we recover from the pandemic.
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Blog
Mar 4, 2021

Total Return Perspectives: February 2021

Treasury yields rocketed higher in February, with the move again concentrated in longer maturities. Volatility spiked as liquidity dried up in the Treasury market, especially after a very weak 7-year auction that briefly pushed 10-year Treasury yields to 1.60%. The news flow was largely the same direction: an improving economy, increased vaccine rollout with deaths and hospitalizations turning sharply lower, and a continued march toward a substantial fiscal stimulus plan.
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Video
Feb 23, 2021

Yahoo! Finance Interview: Larry Cordisco

Watch Yahoo! Finance's interview with Larry Cordisco, who discusses speculation in the current market and the importance of focusing on strong fundamentals.
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Video
Feb 19, 2021

February 11 Webinar Replay: Where Are We in the Cycle for Equities?

If you were unable to join Portfolio Manager Larry Cordisco present "Where Are We in the Cycle for Equities," watch the replay to hear how he finds a balance between near-term cyclical winners and long-term secular winners.
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Video
Feb 4, 2021

TD Ameritrade: Larry Cordisco Interview

Watch TD Ameritrade's interview with Larry Cordisco, Portfolio Manager for the Osterweis Fund, who gives his thoughts on a couple of stocks and the overall market outlook for 2021.
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Blog
Feb 3, 2021

Total Return Perspectives: January 2021

Treasury yields continued to march higher in January, with the move again concentrated in longer maturities. Mortgage spreads tightened slightly, while corporate bond spreads were mostly mixed. The market remains stuck between the push/pull of the prospect for greater fiscal stimulus and ongoing vaccine rollout versus continued lockdowns and the greatest one-month mortality rate since the pandemic began nearly a year ago.
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News
Jan 14, 2021

Litman Gregory Annual Fund Review

Read Litman Gregory's annual review of the Osterweis Strategic Income Fund, where it continues to rate the fund as “Recommended” in its Absolute-Return-Oriented bond fund category.
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Blog
Jan 6, 2021

Total Return Perspectives: December 2020

In December Treasury yields mostly edged higher, concentrated in longer maturities. Corporate bond spreads narrowed, as investors maintained their appetite for risk assets. While we are closer to widespread dissemination of a vaccine against Covid-19, recent virus data and new lockdowns present a more somber view as the year begins.
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Blog
Jan 6, 2021

2021 IG Outlook: Despite Headwinds, a Path Forward Exists

As the new year begins, the investment grade (IG) market faces multiple challenges, including a recovering economy, low yields, tight spreads, and record high duration. At the same time, market technicals remain favorable, fundamentals are improving, and there are attractive sectors in the index. Overall, we are modestly bullish about 2021 and feel there are compelling opportunities for those who know where to look.
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Blog
Dec 28, 2020

Back to (the New) Normal: Five Secular Growth Trends for 2021

The coronavirus pandemic is a once-in-a-lifetime event that transformed society and the economy almost overnight. We believe some of the most significant changes are likely here to stay, and we are focusing our investments on the secular growth trends we expect to strengthen as life returns to normal.
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Video
Dec 17, 2020

TD Ameritrade: Eddy Vataru Interview

Watch TD Ameritrade's interview with Eddy Vataru, lead Portfolio Manager for the total return fixed income strategy, who discusses his thoughts on how the Federal Reserve is managing interest rates in the current market environment.
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Podcast
Dec 16, 2020

Money Life with Chuck Jaffe: Interview with Eddy Vataru

Listen to Eddy’s interview on the “Money Life with Chuck Jaffe” podcast to hear his thoughts on how he is managing the Total Return Fund to address the risks and opportunities in the current investment grade market.
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Blog
Dec 7, 2020

The Case for Waste: Finding Growth in Garbage

Although investors don’t normally think about trash when they’re looking for growth stocks, we believe the solid waste industry is well-positioned to outperform. In our view, the combination of high barriers to entry, stable demand, and opportunities for consolidation should provide reliable revenue growth for the foreseeable future.
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News
Dec 4, 2020

Morningstar Magazine: Osterweis Emerging Opportunity Fund Profile

Morningstar Magazine recently published a profile on Jim Callinan, portfolio manager for the Osterweis Emerging Opportunity Fund (OSTGX). The profile delves into Jim's wealth of experience and how he's built an effective team here at Osterweis.
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Blog
Dec 3, 2020

Total Return Perspectives: November 2020

In November Treasury yields fell slightly, mostly concentrated in longer maturities. Corporate bond spreads narrowed sharply, paced by strong appetite for risk assets that began after election day. We also appear to be substantially closer to dissemination of a vaccine against Covid-19.
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Video
Nov 11, 2020

Yahoo! Finance Interview: Larry Cordisco

Watch Yahoo! Finance's interview with Larry Cordisco, who discusses the current rotation out of technology stocks and the potential impact of the Senate runoff elections in Georgia.
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Blog
Nov 5, 2020

Total Return Perspectives: October 2020

In October Treasuries resumed a steady rise in yields that began in August. Corporate and mortgage bond spreads narrowed, despite weakness in risk sentiment seen in equity markets. Although the election remains undecided, the bond market has rallied as investors are expecting a divided Congress – implying a smaller fiscal stimulus package and continued monetary support from the Fed.
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Podcast
Oct 27, 2020

Money Life with Chuck Jaffe: Interview with Jim Callinan

Listen to Emerging Opportunity Fund Portfolio Manager Jim Callinan's recent interview on the podcast “Money Life with Chuck Jaffe," where he discusses the answer to the question: "What is the right opportunity and what does it look like?"
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News
Oct 16, 2020

Value Investor Insight: Osterweis Emerging Opportunity Fund Interview

In this article the Osterweis Emerging Opportunity Fund (OSTGX) team discusses how valuation factors into their growth strategy.
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Blog
Oct 6, 2020

Osterweis Total Return Fund Ranked #1 in Nontraditional Bond Category by US News & World Report

The Osterweis Total Return Fund was ranked against 311 funds in the nontraditional bond category, based on an equal weighting of the overall ratings provided by US News and World Report data sources as of August 31, 2020.
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Blog
Oct 2, 2020

Total Return Perspectives: September 2020

Treasuries were little changed in a month that saw yields confined to a very narrow range. Corporate and mortgage bond spreads widened slightly, consistent with the slight decline in equities and the uptick in equity volatility.
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News
Sep 25, 2020

Mutual Fund Observer: Osterweis Emerging Opportunity Fund Profile

Mutual Fund Observer recently published a profile on the Osterweis Emerging Opportunity Fund (OSTGX) and its portfolio manager, Jim Callinan. The profile delves into the fund and why they recommend it for "sustained, risk-conscious excellence."
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Blog
Sep 23, 2020

Is the Bond Market as Disconnected from Reality as the Stock Market?

Bob Veres of Insider’s Forum recently moderated a panel discussion featuring Eddy Vataru that explored the disconnect between the strength of the bond market and the weakness in the economy. Eddy explained that the situation is largely due to the Fed's monumental stimulus program, and he suggested strategies for investing in a low rate environment.
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Blog
Sep 23, 2020

Catching the Wave: Why Secular Growth Matters

In our view, the specific market dynamics that influence a company's sales growth prospects have a greater impact on equity returns than the overall direction of the economy.
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Video
Sep 14, 2020

Fixed Income Investing in a Low Rate Environment with Carl Kaufman & Eddy Vataru

In this video, Carl Kaufman, Lead Portfolio Manager for the Strategic Income Fund and Eddy Vataru, Lead Portfolio Manager for the Total Return Fund, share their thoughts on managing fixed income exposure and risks in a low rate environment.
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Video
Sep 14, 2020

Bloomberg TV: John Sheehan Interview

Watch Bloomberg TV's interview with John Sheehan, Portfolio Manager for the total return fixed income strategy, who discusses opportunities in investment grade bonds and provides an overview of the current market. John's segment begins at 16:25.
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News
Sep 14, 2020

CNBC: Emerging Opportunity Fund on the Hunt for Little-known Equity Gems

CNBC recently spoke with Jim Callinan about his experience as a portfolio manager and how he picks winning stocks for the Osterweis Emerging Opportunity Fund.
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Video
Sep 3, 2020

TD Ameritrade: Eddy Vataru Interview on the Fed Update

Watch TD Ameritrade's interview with Eddy Vataru, lead Portfolio Manager for the total return fixed income strategy, who discusses his thoughts on the Federal Reserve's recent announcement about its view on inflation.
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Blog
Sep 3, 2020

Total Return Perspectives: August 2020

Treasuries took a breather in August as inflation fears gripped the market. Corporate and mortgage bond spreads held firm despite the lack of agreement on continued fiscal stimulus.
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Blog
Sep 1, 2020

Investment Grade Credit Update: An Exceptionally Eventful Year That Has Created Opportunities

The investment grade fixed income market has been unusually active in 2020. Initial concerns about Covid-19 triggered a sharp selloff, but sentiment abruptly reversed when the Fed announced plans to purchase corporate bonds. Spreads have nearly returned to their pre-pandemic levels, but not all sectors have recovered equally, creating interesting opportunities for savvy investors.
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Video
Aug 18, 2020

TD Ameritrade: Eddy Vataru Interview

Watch TD Ameritrade's interview with Eddy Vataru, lead Portfolio Manager for the total return fixed income strategy, who discusses his thoughts on the economic recovery and his outlook.
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Blog
Aug 14, 2020

A Bright Future for Renewables: Lower Costs and Rising Demand

Following decades of investment and cost reduction, electricity from renewable energy should be cheaper than most existing fossil- and nuclear-fueled electricity within the next three-to-five years. We believe selectively investing in operators with scale and cost advantages in this sector should be rewarding given the increasing demand for clean energy.
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Blog
Aug 6, 2020

Total Return Perspectives: July 2020

Monetary stimulus continued to dominate in July, as both risk assets and Treasuries performed well. Despite the resurgence of Covid-19 and the expiration of enhanced unemployment benefits, the market remained stable due to ongoing support from the Federal Reserve.
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Blog
Jul 8, 2020

Steepening the (Adoption) Curve: Covid-19 and Digital Transformation

In the era of social distancing, technology has become even more integrated into our personal and professional lives. We believe this trend will persist even after the pandemic passes, and we expect it will particularly benefit firms that support remote working arrangements and eCommerce, two areas where we anticipate accelerating adoption and sustained growth.
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Blog
Jul 7, 2020

Press Release: Osterweis Total Return Fund Receives Five Star Morningstar Rating

The fund was rated over the past 3-years and overall against 289 funds in the nontraditional bond category, based on total returns as of May 31, 2020.
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Blog
Jul 6, 2020

Total Return Perspectives: June 2020

Fiscal and monetary stimulus have continued to provide stability to markets. Fundamental valuations seem to have decoupled from market levels as reopenings reverse and Covid-19 cases seem to be rising more rapidly.
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Blog
Jun 29, 2020

Press Release: Osterweis Emerging Opportunity Fund Receives Five Star Morningstar Rating

The fund was rated over the past 3 years and overall against 583 funds in the small cap growth category based on total returns, as of May 31, 2020.
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Blog
Jun 11, 2020

Weathering the Storm: Data Shows Consumers Are Holding Up Better Than Expected

According to Daniel Oh, remittance data for asset-backed securities suggests borrowers have embraced Covid-19 assistance programs, mitigating the initial impact of the downturn. However, if the recovery is slow he expects delinquencies and charge-offs to increase.
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Blog
Jun 2, 2020

Total Return Perspectives: May 2020

Fiscal and monetary stimulus have stabilized markets. Looking ahead we believe risk assets could continue to outperform Treasuries despite potentially weak economic data, largely due to Fed purchases.
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Video
May 27, 2020

Webinar Replay - Managing Downside Risk in a Volatile Market

If you were unable to join the webinar: Managing Downside Risk in a Volatile Market, during which Larry Cordisco and John Osterweis discussed their perspectives on managing the risk in the a volatile market, you can now watch the replay.
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Video
May 11, 2020

Webinar Replay - A Roadmap for Fixed Income Investing in a Pandemic Economy

If you were unable to join Eddy Vataru when he recapped the fixed income landscape since the 2008 financial crisis and outlined a framework for assessing the risks and opportunities within investment grade bonds in the current market environment, you can watch the replay here.
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Blog
May 5, 2020

Total Return Perspectives: April 2020

While fiscal and monetary stimulus have stabilized markets, we believe continued economic weakness will stunt the performance of risk assets.
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Video
May 3, 2020

TD Ameritrade: Craig Manchuck Interview

Watch TD Ameritrade's interview with Craig Manchuck, Portfolio Manager of the Osterweis Strategic Income Fund, who discusses takeaways from market volatility levels.
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Podcast
Apr 21, 2020

Money Life with Chuck Jaffe: Interview with Eddy Vataru

Listen to Eddy’s interview on the “Money Life with Chuck Jaffe” to hear his thoughts on fixed income investing during the pandemic economy. The coronavirus has put such a big wrench in the markets that it's forcing investors to reconsider their entire playbook
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Blog
Mar 30, 2020

The Plumbing Clogged, but Do Not Throw Out the Baby With the Bath Water

According to John Sheehan, the recent selloff in Investment Grade fixed income was exacerbated by technical factors. In his view, regulatory changes implemented after the 2008 crisis removed a critical shock absorbing mechanism that caused spreads to spike.
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Blog
Mar 18, 2020

Gene Therapy: A Transformative Approach to Patient Care

Following decades of academic research and behind-the-scenes progress, gene therapy has emerged as one of the most promising fields in medicine. This revolutionary technology addresses the root causes of genetic disorders, creating not only better patient outcomes but also compelling investment opportunities.
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Audio
Mar 11, 2020

REPLAY: Osterweis Capital Management Market Update

If you were unable to join our market update, when we discussed Coronavirus, recent market volatility, and our market outlook, you can now listen to the replay by clicking on the player below.
OCM Conference Call Replay
Blog
Mar 3, 2020

Lesson from Kraft Heinz Downgrade: Bondholders Beware

Kraft Heinz’s recent downgrade demonstrates that bondholders can no longer assume issuers are committed to maintaining their investment grade rating, and investors who are caught off guard will pay the price.
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Blog
Mar 3, 2020

Press Release: Osterweis Total Return Fund Celebrates 3-Year Anniversary

The fund’s Sharpe Ratio is in the top 1% of its Core Fixed Income Lipper peer group.
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Blog
Mar 2, 2020

Total Return Perspectives: February 2020

The Treasury rally intensified in February, driven by the global spread of the coronavirus.
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Video
Feb 18, 2020

Webinar REPLAY - A Roadmap for Fixed Income Investing in a Low Rate Environment

If you were unable to join Eddy Vataru when he shared practical insights into developing an investment grade strategy that is flexible enough to handle today’s new realities, you can watch the replay here.
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Podcast
Feb 10, 2020

Money Life with Chuck Jaffe: Interview with Carl Kaufman

Listen to Carl's recent interview on the podcast “Money Life with Chuck Jaffe," where he discusses his fixed income outlook and the influence of central banks on the market.
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Blog
Feb 6, 2020

Total Return Perspectives: January 2020

The 2019 Treasury rally continued into January as the Coronavirus spread through China and cases began to be reported globally.
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Blog
Jan 13, 2020

2020 Investment Grade Credit Outlook: Take a Scalpel, Not an Axe

2019 was an exceptional year for investment grade fixed income, but according to John Sheehan, the market is unlikely to repeat itself in 2020. He feels active portfolio management and effective credit selection will drive performance this year.
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Blog
Dec 17, 2019

Negative Rates in the U.S.? We Don’t Think So

Although trillions of dollars of global debt currently “pays” negative yields, according to Eddy Vataru, the size and supply/demand dynamics of the U.S. mortgage market will keep domestic rates positive for the foreseeable future.
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Blog
Oct 11, 2019

When Evaluating Venture-Backed Initial Public Offerings, Patience Is a Virtue

The venture capital industry has created a robust pipeline of new public companies, but in our view discipline is the key to finding the best opportunities.
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Podcast
Sep 7, 2019

Money Life with Chuck Jaffe: Interview with Eddy Vataru

Listen to Eddy’s recent interview on the “Money Life with Chuck Jaffe” podcast to hear his thoughts on the inverted yield curve and the likelihood of a recession.
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Blog
Aug 23, 2019

Aligned Incentives: Our Key to Navigating the Diverse High Yield Market

In our experience, family-owned private firms and small-to-medium sized public companies are most likely to borrow responsibly and prioritize bondholders ahead of other investors.
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Blog
Aug 13, 2019

Investment Grade Credit Report: An Impressive First Half

According to John Sheehan, accommodative Fed policy and favorable market technicals drove the investment grade credit market’s strong start to 2019.
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Blog
Jul 5, 2019

Convertible Bonds: An Underappreciated Source of Alpha

Although most investors ignore the opportunities presented by these flexible fixed income securities, they are an integral component of our strategy.
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Video
Apr 16, 2019

Webinar REPLAY - Managing for Total Returns in an Uncertain Environment

If you were unable to join our webinar about Managing for Absolute Returns in an Uncertain Environment, hosted in partnership with AdvisorPerspectives, you can watch the replay here.
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Blog
Apr 15, 2019

A Contrarian View: Now Is Still the Time to Invest in Growth

In early November 2018 we published a blog post claiming that the time was right to invest in growth. In this piece, we revisit our analysis and draw the same conclusion.
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Blog
Mar 21, 2019

Don’t Believe the Hype: An Inverted Yield Curve Does Not Guarantee a Recession

Conventional wisdom dictates that recessions occur every time the yield curve inverts, but in our view that is an oversimplification.
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Blog
Mar 14, 2019

A New Paradigm for Stocks: Digital vs. Decline, Not Growth vs. Value

As the influence of technology continues to increase, we believe investors need to reconsider the relevance of both the traditional style matrix and sector classifications.
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Blog
Jan 15, 2019

Not as BBBad as You’ve Heard – Despite Negative Headlines, We Do Not Anticipate a Wave of Downgrades

BBB issuers have received a lot of bad press recently, but John Sheehan believes the perception is worse than the reality and that credit selection is key to finding good risk adjusted returns.
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Blog
Dec 10, 2018

U.S. Consumers Poised to Drive Demand in 2019: Which Companies Can Capitalize?

In his 2019 preview, Jim Callinan explains why he feels retail businesses are the likely engines for growth and shares his views on sectors and firms that should outperform.
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Blog
Nov 5, 2018

A Contrarian View: Now Is the Time to Invest in Growth

With the U.S. economy now in its ninth year of expansion, investors have become wary of growth stocks and their higher multiples. The ongoing market volatility has increased these concerns, but research from Cornerstone Macro suggests that a slowdown in the economy may in fact be favorable for growth companies.
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Blog
Oct 5, 2018

Leveraged Buyouts: Risks May Lurk Beneath the Surface of These Popular Deals

The recent Blackstone->Thomson Reuters acquisition reminded us once again why we need to be extra vigilant when evaluating sponsor backed deals.
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Blog
Oct 2, 2018

The Case for Concentrated Portfolios

When it comes to investing, we have always believed that focus is more important than breadth. In our latest paper, John Osterweis and Jim Callinan discuss the advantages of concentrated portfolios.
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Blog
Sep 5, 2018

Finding Growth in Unexpected Places: Cyclical Industries

Jim Callinan explores three firms from traditionally slow-growing cyclical industries that he believes are building businesses well-positioned to outperform the market.
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Blog
Jul 6, 2018

MedTech Disruptors: Combining Better Patient Outcomes with Direct-to-Consumer Marketing

Jim Callinan discusses how these three innovative MedTech firms are leveraging direct-to-consumer marketing to accelerate growth and disrupt their industry.
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The Osterweis Funds are available by prospectus only. The Funds’ investment objectives, risks, charges and expenses must be considered carefully before investing. The summary and statutory prospectuses contain this and other important information about the Funds. You may obtain a summary or statutory prospectus by calling toll free at (866) 236-0050, or by visiting www.osterweis.com/statpro. Please read the prospectus carefully before investing to ensure the Fund is appropriate for your goals and risk tolerance.

The Osterweis Funds and other products and services described on this website are intended to be made available to U.S. investors only. Shares of the Funds are currently offered only in the United States and are not available for sale in any jurisdiction other than the United States. The information on this website is neither an offer to sell nor a solicitation of an offer to buy a mutual fund, security or service in any jurisdiction in which such offer, solicitation, purchase or sale would be unlawful. Please read these Terms and Conditions.

Mutual fund investing involves risk. Principal loss is possible.

Osterweis Capital Management is the adviser to the Osterweis Funds, which are distributed by Quasar Distributors, LLC.